Tesla, Coca-Cola, PayPal: Which Top Companies Chose To Accept Bitcoin, and Why?

During the crypto winter, many companies that were initially interested in accepting cryptocurrencies reconsidered their decision. Today, though, we are starting a new chapter in the story of crypto adoption as top brands place their bets on it once again.

Tesla announced that it will be accepting Bitcoin for the entire model range of sustainable electric cars – right after investing 1.5 billion USD into the coin. For now, only US citizens can use this payment method; the BTC will be retained in crypto.

Japan also came one step closer to the adoption of digital currencies, as its biggest online retailer Rakuten let users convert Bitcoin, Bitcoin Cash, and Ethereum into the platform’s native token, Rakuten Cash. There are no handling fees, which is the first for the country.

Amazon still refuses to integrate cryptocurrencies, even though its live-streaming platform Twitch allows to buy subscriptions and make donations with BTC, BTH, LTC, or XRP. Still, the e-commerce giant accepts gift cards that can be purchased with crypto via Bitpay. The same goes for Apple, Google Play, Spotify, Tesco, and a number of other well-known brands.

What are the main reasons for the companies to start accepting crypto? Quite a few are eager to keep pace with progress, take advantage of the technology and attract new customers. But in some cases, the choice is dictated by the pandemic and the hyperinflation it caused.

A good example of the latter is Venezuela. More than 20,000 stores, restaurants, and hotels around the country, including Pizza Hut, Burger King, and Intercontinental, now accept cryptocurrencies through Cryptobuyer. Another interesting case is Coca-Cola Amatil: to encourage contactless payment methods, it now has 2,000 vending machines in Australia and New Zealand where one can pay for their fizzy drink with Bitcoin.

However, some of the most interesting adoption cases are happening in finance. As Mastercard and PayPal are embracing cryptocurrencies, top banks like JP Morgan and Goldman Sachs seem quite open-minded about them as well. And should the largest Wallstreet banks go crypto, it will become a vast precedent – and a serious step towards its legalization.

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